One of the partners who recently joined private bank Baumann & Cie Banquiers is leaving, meaning the change in generations at the bank has suffered a setback.
Mathias Brenneis (picture below) is leaving the Basel private bank Baumann & Cie at the end of this month after becoming a partner.
The private bank, one of the last five in Switzerland with fully liable partners, was looking to bring about a generational change with 40-year-old Brenneis and 46-year-old Daniel Burkhardt after Mathias Preiswerk had decided to withdraw from active involvement in the business.
Mutual Consent
From September, Baumann’s management will consist of Burkhardt and Chairman Daniel Rüedi. Preiswerk remains a «silent» partner.
Brenneis’ departure was first reported by Swiss financial news website portal «Inside Paradeplatz» (in German) Thursday.
Rüedi told finews.com that the parting of ways was by mutual consent.
Brenneis will hand over his operational responsibilities as well as his stake in Baumann at the end of June 2022.
Brenneis joined Baumann & Cie in 2018 from Sberbank (Switzerland) and became a partner at the beginning of 2020 at the age of 38.
Rüedi said it was clear from a strategic point of view that both the management position and partnership would be backfilled. However, the bank wanted to take its time and not rush into anything.
